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To: long-gone who wrote (85819)	5/25/2002 12:08:12 PM
From: long-gone	Respond to of 116818

23 May 2002 U.S., South Africa Sign Joint Statement on Development Calls sustainable development the way to end global poverty U.S. Treasury Secretary Paul O'Neill, center, and U2 lead singer Bono, left, are greeted by South African President Thabo Mbeki May 23. (AP/WWP) Sustainable development is a "critical prerequisite for economic growth for the development of the economies of developing countries and for the elimination of global poverty," says a joint statement signed and released May 23 by U.S. Treasury Secretary Paul O'Neill and South African Finance Minister Trevor Manuel. O'Neill is in Pretoria, South Africa, on the fourth stop of a two-week Africa tour, which began in Ghana and also includes Uganda and Ethiopia. The joint statement also expresses firm support for the "New Partnership for Africa's Development (NEPAD)," which seeks to improve political and economic governance throughout Africa, and to create a sound climate for productive investment and enterprise. Additionally, the statement endorses the goal of a stable international financial system, and of enhancing its integrity to reduce its use in financing crime, corruption and terrorism. Both officials also agreed that their respective countries will fight all forms of financial crime. Following is the text of the joint statement signed by U.S. Treasury Secretary Paul O'Neill and South African Finance Minister Trevor Manuel: Joint Statement by South African Minister of Finance Manuel and U.S. Secretary of Treasury O'Neill The Governments of the Republic of South Africa and the United States of America believe that sustainable economic growth is a critical prerequisite for the development of the economies of Developing Countries and for the elimination of global poverty. To this end, we support the objectives of the New Partnership for Africa's Development (NEPAD), which seek to improve political and economic governance throughout Africa, and to create a sound climate for productive investment and enterprise. It recognizes that primary responsibility for Africa's development rests with Africans, but seeks a partnership with the international community based on shared efforts and mutual responsibilities to build African capacities, to ensure aid effectiveness, and to integrate African economies within the region and into the global economy. We believe this is the fundamental basis for a sustained reduction in poverty in the region and stable and peaceful societies. We also share the goal of a stable international financial system, and of enhancing its integrity to reduce its use in financing crime, corruption and terrorism. We therefore agree to fight all forms of financial crime, especially money laundering and terrorist financing as set out in the 40+8 Recommendations of the Financial Action Task Force on Money Laundering. To that end we support regional and international initiatives which strengthen the financial system and suppress financial crimes. We are committed to building a lasting partnership, which will aid in safeguarding our financial sectors from the corrupting influences of organised criminals, international terrorists, drug traffickers, human smugglers and other forms of criminal behavior. We share a belief that we can learn from one another in this area and build on our common experiences for the benefit of both our countries. We also believe that this partnership will prove to enhance the already strong relationship we share with one another. We agree that the Governments of the Republic of South Africa and the United States of America will cooperate to build strong institutions which will safeguard the integrity of our financial systems and commercial sectors. In particular we pledge our support to building an integrated Financial Intelligence Centre in South Africa which will coordinate closely with law enforcement authorities, the South African Revenue Service, South African Reserve Bank and regulatory bodies, and which will aid in fighting all types of financial crime. 23 May 2002 usinfo.state.gov